Rethinking succession amidst auto sector disruption

Succession planning in the automotive retail industry is evolving beyond traditional family discussions and formal plans. It now requires a mindset that embraces digital transformation and prepares future leaders to navigate profound technological changes. Family businesses must not only consider who will take over but also how they will adapt to the evolving landscape of their business. The industry is currently experiencing significant consolidation where dealership groups are expanding rapidly. This trend raises important questions about the readiness of family-owned businesses in Canada for succession planning.

As the auto retail industry faces consolidation and expansion challenges, family businesses in Canada must reflect on their succession plans and consider the implications of both internal and external leadership transitions.

Dave Power

Partner, Consumer and Industrial Markets and National Automotive Sector Leader, Audit

KPMG in Canada

Dave Power

Partner, Consumer and Industrial Markets – Audit and National Sector Leader, Automotive

KPMG Canada

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Unlock the future of your family business in the automotive retail industry with our latest piece on succession planning, which emphasizes the need for digital transformation and strategic leadership transitions. As dealership groups expand and the industry consolidates, family-owned businesses in Canada must reassess their succession strategies. Equip your business for future challenges and take action today. Download the report to stay ahead of the curve with insights from KPMG in Canada professionals.